Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
TOP COURT RULES FOR INSURERS ON MEDICAL CHARGES:
Apr 4 2005 // The Supreme Court of Michigan recently ruled that the state’s No-Fault Insurance Act prohibits health care providers from charging more than a reasonable fee for services and left it up to lower courts to determine...
Spitzer’s Complaint Outlines Aon’s Personal Lines Deals with Insurers
Apr 4 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
South Central Homeowners Market Update
Apr 4 2005 // Judging from the homeowners insurance rate changes reported by the Arkansas Insurance Department for 2004, the highest increases were effective before August. The largest hike, 28.3 percent, was filed by Federal Insurance...
TDI February Enforcement Actions = $1.3 M in Fines and Restitution
Apr 4 2005 // The Texas Department of Insurance recently announced enforcement actions taken by Commissioner José Montemayor that became final during February. The actions include four license revocations, one license denial, and fines...
Keeping Retention Rates High in a Softening Market
Apr 4 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success and profitability than those who consistently lose...
IBA West President Discusses Broker Disclosure, Work Comp Issues
Apr 4 2005 // Mark Wells, publisher of Insurance Journal, recently spoke to Stan Simpson, the newly elected president of the Insurance Agents and Brokers of the West and a principal at Buckman-Mitchell Inc., an independent agency in...
Court Upholds Industry Lawsuit: CDI’s Homeowners Regulations Illegal
Apr 4 2005 // Charges by the California Department of Insurance that the California homeowners insurance industry arbitrarily nonrenews or raises rates on homeowners who file one claim or make an inquiry about their coverage is little...
Homeowners Moving to the West Coast
Apr 4 2005 // Whether your client owns a multi-million dollar home overlooking the Pacific Ocean or a small bungalow tucked away a mile from the beach, it is your responsibility to find the right homeowners insurance coverage that will...
Some 200 Insurance-Related Bills Introduced in California Legislature
Apr 4 2005 // About 200 insurance-related bills have been introduced in the California Legislature this session, according to The Association of California Insurance Companies. “We expect during the upcoming months that the issues...
Adjusters can Detect the Problem of Underinsurance Before Disaster Strikes
Apr 4 2005 // In the aftermath of the devastating Southern California wildfires of October 2003, claim adjusters went to work in an area where an estimated 3,631 structures were destroyed. In many cases the only remaining indication of...
Insurers Warn of Scam Contractors in Wake of Central Texas Storms
Apr 1 2005 // People suffering damage to their homes and businesses a result of the storms that swept across Austin, Texas, over the Easter weekend were warned to be aware of unscrupulous contractors ready to take advantage of storm...
S&P Report Describes Increased Access to Capital Markets for Small, Mid-Sized Insurers
Apr 1 2005 // A study from Standard & Poor’s Ratings Services examines recent changes in the U.S. capital markets, and concludes that they have “have sparked interest in the credit ratings on small and mid-size...
Homeowners Want ‘Uncovered Perils’ Clarified; Fla. Legislators Won’t Budge
Apr 1 2005 // Homeowners with outstanding claims for hurricane damage and their attorneys, insurance company lobbyists and Florida’s House Insurance Committee members all disagree about if an insurance company is liable if a...
W. Va. Judge to Decide: Should E-Mails Discussing Premium Rollbacks Be Made Public?
Apr 1 2005 // West Virginia Circuit Court Judge Paul Zakaib is expected to decide Friday whether or not to make public the contents of emails detailing negotiations between the West Virginia Insurance Commission, an aide to Governor Joe...
N.Y. Court Upholds No-Fault Regulation Letting Insurers Deny Payments to Fraudulent Medical Firms
Apr 1 2005 // The New York Court of Appeals has upheld the right of an insurance company to refuse to reimburse fraudulently incorporated medical providers for no-fault auto insurance claims even when the medical care provided is...
Calif. Commissioner Announces Legislation Requiring Insurers to Invest in Underserved Communities
Mar 31 2005 // California Insurance Commissioner John Garamendi and Assembly member Mark Ridley-Thomas (D-Los Angeles) introduced AB 925, a new piece of legislation that would require insurers to make investments in low- and...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
N.Y. Toughens Reporting on Finite Reinsurance
Mar 30 2005 // The New York State Insurance Department has decided it will require insurers’ chief executive officers to verify that any finite reinsurance contracts their companies have are correctly reported. The CEOs will be...
Fla. CFO Seeks to Clarify Reported Confusion with Storm Claims, Outlines Options to Help Consumers
Mar 30 2005 // Florida’s Chief Financial Officer Tom Gallagher on Wednesday raised concerns with confusing policy language and recommended solutions for helping consumers navigate through their homeowners insurance policies and...
Calif. Consumer Advocate Rosenfield Urges Mass. to Repeal No-Fault, Make Other Auto Changes
Mar 29 2005 // Massachusetts should repeal its no-fault law, end its reliance on uniform state-set rates, and remove the state antitrust exemption for auto insurers if it wants to improve its auto insurance system for consumers. That...
